PubMatic, Inc. (NASDAQ:PUBM) Stock Has Average Target Price of $19.73 According to Analysts

Shares of PubMatic, Inc. (NASDAQ:PUBM) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.73.

PUBM has been the subject of several analyst reports. Jefferies Financial Group boosted their target price on shares of PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, August 11th. Citigroup reiterated an “outperform” rating on shares of PubMatic in a research report on Friday, August 7th. Scotiabank raised shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $8.00 to $21.00 in a research note on Friday, August 7th. Evercore restated an “outperform” rating and set a $21.00 price objective on shares of PubMatic in a research report on Monday, August 10th. Finally, Craig Hallum assumed coverage on PubMatic in a research note on Thursday, September 24th. They set a “buy” rating and a $24.00 target price for the company.

PubMatic Stock Performance

PUBM opened at $18.57 on Monday. PubMatic has a 52-week low of $6.15 and a 52-week high of $19.48. The firm has a market cap of $845.86 million, a P/E ratio of -61.90 and a beta of 1.56. The business’s fifty day moving average is $16.81 and its 200-day moving average is $12.94.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. The business had revenue of $78.59 million during the quarter, compared to the consensus estimate of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. On average, research analysts predict that PubMatic will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Rajeev Goel sold 211,302 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $17.74, for a total transaction of $3,748,497.48. Following the completion of the transaction, the chief executive officer owned 31,692 shares of the company’s stock, valued at approximately $562,216.08. The trade was a 86.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Steven Pantelick sold 23,491 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $18.97, for a total value of $445,624.27. Following the sale, the chief financial officer owned 32,526 shares of the company’s stock, valued at approximately $617,018.22. This represents a 41.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 602,909 shares of company stock worth $10,527,490. Insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PUBM. CenterBook Partners LP boosted its position in PubMatic by 53.3% in the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after buying an additional 398,595 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of PubMatic by 26.3% during the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after buying an additional 321,200 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of PubMatic during the first quarter worth $1,687,000. Pinnacle Holdings LLC bought a new position in shares of PubMatic in the 2nd quarter valued at $2,076,000. Finally, Quantinno Capital Management LP lifted its stake in shares of PubMatic by 248.0% in the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after acquiring an additional 147,386 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic News Summary

Here are the key news stories impacting PubMatic this week:

• Positive Sentiment: Sony Pictures partnership expands connected-TV prospects: Sony Pictures Entertainment named PubMatic its preferred programmatic advertising partner for Live TV on PS5. The agreement could give PubMatic access to more gaming and entertainment ad inventory, increasing impressions, advertiser demand and future revenue opportunities. Sony Pictures Entertainment Names PubMatic Its Preferred Programmatic Advertising Partner
• Neutral Sentiment: Analyst support remains favorable: Analysts maintain a consensus “Moderate Buy” rating, with several firms assigning price targets above or around the current share price. This supports sentiment, but the stock’s proximity to its 12-month high may limit near-term upside. PubMatic Stock Rated Moderate Buy by Wall Street Brokerages
• Negative Sentiment: Several executives sold shares: CEO Rajeev Goel, CFO Steven Pantelick, Chairman Amar Goel, General Counsel Andrew Woods and insider Mukul Kumar disclosed sales totaling roughly 94,600 shares and about $1.8 million across recent transactions. Woods also sold 10,079 shares, while Pantelick sold more than 22,000 shares and Amar Goel sold more than 10,000. Most sales were executed under pre-arranged Rule 10b5-1 plans; one Woods transaction covered tax withholding. Those details reduce the bearish significance, but the sizable reductions in insider ownership could weigh on confidence and create additional share supply. PubMatic Insider Trading Alert

About PubMatic

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.

The company’s platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.